KeyBank EVP Testifies on Behalf of Roundtable and CBA
Testimony Emphasizes Industry Commitment to Increasing Small Business Lending
WASHINGTON, Feb. 13, 2013
WASHINGTON, Feb. 13, 2013 /PRNewswire/ --Maria C. Coyne, KeyBank Executive
Vice President, Branch Network, testified today before a hearing of the U.S.
House Committee on Small Business on "The State of American Small Businesses."
Ms. Coyne spoke on behalf of The Financial Services Roundtable and the
Consumer Bankers Association.
In her testimony, Coyne stated KeyBank's commitment to women-owned businesses
had totaled $6 billion in lending since 2005. She also reiterated a 2011
commitment made by KeyBank and 12 other banks to increase small business
lending by $20 billion over three years. Coyne cited widespread industry
support for increases in small business lending; calling small businesses the
"cornerstone of the American economy and its communities."
"KeyBank, the Roundtable and CBA have supported, and will continue to support,
the various efforts of this Committee and Congress to expand small business
lending and to stimulate economic development," Coyne said. "As a result,
many small business lenders have instituted aggressive second-look programs to
ensure no stone is unturned when finding ways to make more quality loans.
These second-look programs are resulting in more approvals."
Coyne also noted a parallel track between the country's economic outlook and
"It is a myth that banks are holding back the economy by refusing to loan to
small and large businesses," she said. "In fact, overall domestic loans
increased 5% by the end of 2011, reaching $2.1 trillion by the end of the
second quarter of 2012. However, today's economic environment remains a
challenge for many small businesses."
Coyne's full testimony can be found online at:
The Consumer Bankers Association (CBA) is the trade association for today's
leaders in retail banking - banking services geared toward consumers and small
businesses. The nation's largest financial institutions, as well as many
regional banks, are CBA corporate members, collectively holding two-thirds of
the industry's total assets. CBA's mission is to preserve and promote the
retail banking industry as it strives to fulfill the financial needs of the
American consumer and small business.
About The Roundtable
The Financial Services Roundtable represents 100 integrated financial services
companies providing banking, insurance, and investment products and services
to the American consumer. Member companies participate through the Chief
Executive Officer and other senior executives nominated by the CEO.
Roundtable member companies provide fuel for America's economic engine,
accounting directly for $98.4 trillion in managed assets, $1.1 trillion in
revenue, and 2.4 million jobs.
Key traces its history back more than 160 years and is headquartered in
Cleveland, Ohio. One of the nation's largest bank-based financial services
companies, Key has assets of approximately $90 billion as of Dec. 31, 2012.
Key (NYSE: KEY) provides deposit, lending, cash management and investment
services to individuals, small and medium-sized business in 14 states under
the name KeyBank National Association. Key also provides a broad range of
sophisticated corporate and investment banking products, such as merger and
acquisition advice, public and private debt and equity, syndications and
derivatives to middle market companies in selected industries throughout the
United States under the KeyBanc Capital Markets trade name.
For more information about Key, visit www.key.comor follow Key on
Twitter@KeyBank_News and @KeyBank_Thrive. KeyBank is Member FDIC
Contact: At The Roundtable: Elise Brooks Perkins, +1-202-589-2427; At CBA:
Jean Marie Bunton, +1-202-552-6370; At KeyBank: Drez Jennings, +1-216-471-2885
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